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CVS said on Monday that it was reducing the size of its board to 13 members from 16 in order to further align with corporate-governance best practices, and that Bertolini and two other board members would not stand for reelection at the company’s annual meeting this year.
Bertolini, who has served on the CVS board since November 2018 when CVS closed its $69 billion acquisition of Aetna, told the WSJ in an interview following CVS's announcement that he was being pushed off the board.
The merger of the two companies was intended to transform the consumer health experience and lower costs by combining CVS’s pharmacy operations with Aetna’s health insurance business. CVS chief executive Larry Merlo became CEO of the combined company while Bertolini did not retain an executive role.
Dorman added, “CVS Health is successfully executing against its strategy of becoming the world's most consumer-centric health care company.”